In the past, it was considered to be a more straightforward and advantageous thing to rent or buy office space in a downtown area and operate your business within a static framework. Now the business world has evolved, and due to advancing technology, the prospect of working remotely or of getting either a virtual office or a pair of executive suites for your employees is usually considered to be far better.
Executive suites are growing in popularity because they offer business owners and their employees the opportunity to work more peacefully, finish their tasks efficiently and relax more easily than they would in a conventional office space. An executive suite has all the amenities you need to live well, yet is also located strategically, and has the practical electronics and options that you need in order to move your entire base of operations there, rather than renting expensive office space.
Exclusive Denver Tech Center office space rental spaces can greatly improve your image due to the luxury feel and impressive amenities that these suites offer. Basically, when you organize an event or meet with a potential client or business partner, the very concept that your business is being run from one or more executive suites will command a lot of respect.
Sooner or later, any business needs a space in which to operate and grow. There are two options depending on the financial availability: buy or rent a Denver office space.
Both buying and renting have pros and cons, so a thorough analysis is required before making a final decision.
If you choose to buy, the biggest advantage is the control you get. You will have ownership of the space, so you will be able to arrange and optimize it as needed. In addition, there is no fear that, at some point, the landlord may come to ask for the cancellation of the lease just because they have found a tenant willing to pay more.
In addition, buying office space is a long-term investment. Over time, the property can gain in value, and, in the event of a sale, it would bring an exciting profit and the benefits of using your own office.
On the other hand, the purchase price of office space may be too high, and not every business can afford it. Sure, you’ll pay more in the long run if you rent office space, but a suitable Denver Tech Center office space rental may be a better option for your business.
Also, keep in mind that your business may grow fast if the climate is favorable, turning the “perfect” office you have purchased into a useless space in just a few months.
Cutting corners is never a wise thing to do, and that is true for renting Denver office space as well. If you are currently in the process of finding the most suitable office space solution for your business in the Mile-High City, you surely know already that renting an office space in the conventional sense of the word is a costly thing to do.
Fortunately, renting an ample, permanent office space is not the only option available to you – here are some others that are considerably cheaper, but that does not make your life more complicated or more uncomfortable in any way:
- A virtual office – these modern office solutions are perfect for businesses that need a registered address and some assistance services but not a permanent space to work from. The solution is perfect for freelancers, such as telecommuters and small businesses, the employees of which do not need to meet daily.
- Temporary office space or hot desks – these solutions provide you a workstation to run your business from wherever you need an office-like space, but not permanently. The benefits of the option include low cost, round-the-clock availability, flexibility, and an atmosphere to promote productivity.
When looking for a temporary Denver Tech Center office space rental, you shouldn’t cut corners but you don’t have to go with a traditional office layout either; you can choose to use a virtual or temporary office for your business.
If your business is on a path to success and you have made up your mind to rent office space for it, you are surely wondering how long that process will take. Here are a few things that you should know about the factors that will influence the time frame for finding the most suitable Denver Tech Center office space rental:
- The type of office – in the past, the only type of office space available was conventional physical space comprised of rooms where people sit behind desks and work. Today, that type of physical office space is just one option, the other solution chosen by more and more companies today is a virtual office that provides a physical address, but does not involve the availability of a permanent office. Why finding a conventional physical space involves multiple visits two office space providers and lengthy negotiation of contractual terms, renting a suitable office space takes place entirely online and can be accomplished in a few minutes;
- Your budget – while a tight budget will not influence the time you need for finding and renting the right office, the size of the amount that you can afford to spend on your office each month will certainly determine the time frame for finding a physical office.
If you need a conference room in Denver to have a meeting with your teams or to make a presentation in front of important business partners and guests and you have recently started your search for the right venue, you are surely overwhelmed by the extraordinary wide range of options to choose from. The best way to make that search easier is to establish the criteria that should guide your quest.
In demand Denver Tech Center office space rental specialists offer these important factors to consider:
- Features and equipment – depending on the type of the meeting that you need a room for, your conference room will need to cater for all your special tech needs. Prepare a list with the equipment you need (don’t forget seemingly small things, such as phone and laptop chargers on the table) and choose a conference facility that has them all;
- The size of the room – you need a room that allows for comfortable seating for everyone in the room;
- The style and the ambient – get a room with as much natural light as possible and make sure that the artificial light is efficient as well;
- Services – coffee and snacks are essential for short and long meetings alike. If you are planning an all-day meeting, make sure that there is a catering service available as well.
If your business is growing and so is the number of your full-time employees, you will soon need an office for your teams to work from. If you have already started looking for the right space, here are some tips on how to calculate the size of a Denver Tech Center office space rental you should consider:
- Consider legal requirements – while there are no legal requirements that determine the amount of space needed by one person, there are many fire and building safety rules that determine the minimum width of hallways and doorways. It is a good idea to consult those regulations before renting your office;
- Giving your employees space – ideally, your office should provide at least 125 sq ft of usable space per person. However, the actual size that you need will depend on the actual activities that will be performed in the office as well as upon your storage needs;
- Account for growth – if you need the office for a longer period, such as for 3 or more years, you are probably planning to continue on the path of growth, which will also mean a growing office team. When you are calculating the space you need, try to plan for that, too;
- Use an online calculator – there are many online apps that can help you figure out the exact size of the space to rent.
If your business is changing and those changes require you to find a suitable, full-time office space, here are some aspects to consider when weighing available options:
- The size and the configuration of the space – the most important aspect to consider is the size and the layout of the space you rent. Your office needs to be large enough to accommodate your office staff in a way that ensures maximum productivity. The layout is also important – while some tasks can be performed efficiently even in noisy environments, with other people around talking to each other or on their phones, some tasks need more privacy and your office needs to be suitable for both types of tasks;
- Location – ideally, your office should be located in an area that is easy to access for your team members as well as for your clients. Central locations are best for tech companies, but the nature of your activities might require a location in a different part of the city;
- Value for your money – ideally, your office rental fees should include building maintenance, janitorial services, utilities and internet access. Pick a long term Denver Tech Center office space rental that comes with a detailed and completely transparent fee structure, without any hidden costs.
When you choose a DTC office space rental, be prepared that there will be lots of tasks involved, including a careful appreciation of the rental contract. The contract will come with lots of terms and conditions, one of the clauses that need your attention being rent escalation, the clause that allows the landlord to increase the rent gradually. Here are some things that you should know about commercial rental rate increase:
- How rates are expressed – there are several ways to establish Denver Tech Center office space rental rates. Some landlords charge a per square foot rate, others establish a base rate for the entire office or per square foot and add other fees calculated as percentages of the base rate, to mention just two of the most common calculation methods;
- What your rented area includes – your rental rates will include not only the office space that you use, but proportional parts of the staircase, of the elevator and of other public parts of the building as well as a part of the cleaning and maintenance fees. How much you will actually pay for your rental will also be determined by changes in these rates as well;
- Fixed escalations – most lease contracts include clauses related to fixed, usually yearly increases, expressed either as a fixed amount or as a percentage of the rent amount.
Yes, they do, but in choosing the right office space you must take into account the type of business and work environment that the company pursues. For each option, there is a dynamic solution.
The office layout must support the requirements of the start-up business. Tech or creative start-ups generally use open spaces, in order to promote an atmosphere in which ideas grow through collaboration and there is synergy between all the roles occupied in the company. Open spaces have a modern look, and can improve operational communication as well as the relations between employees.
Instead, start-ups focused on consulting services prefer traditional, intimate spaces, with a more obvious delimitation of the areas, and in which meetings with clients can take place behind closed doors, for more confidentiality.
But the options startup companies have, in terms of office space, do not end here.
Shared Denver Tech Center office space rental options, where different companies work together in the same office, can also be good solutions for start-uppers. For a start-up model that does not require a large workspace or storage space, does not have many employees and resources and does not plan to expand immediately, such a working environment may be the most suitable.
Most businesses have gone through this dilemma: buying office space or renting one. Rising property prices, the insecure economy and other factors may be the reasons for this dilemma.
What are the advantages of finding an affordable Denver Tech Center office space rental?
One of the main advantages of renting office space is that you can change the location of your business at any time. There is nothing permanent when it comes to rented office space.
There is also a difference between owning a building and renting it. When you own a building, you are solely responsible for its maintenance. On the other hand, being a tenant will save you a lot of time and you can focus on running the business without wasting time with building management issues.
As for costs, a Denver Tech Center office space rental offers short- and medium-term financial benefits. First of all, you do not have to invest the company’s capital in purchasing a property for setting up an office. You must pay a security deposit and a monthly rent; but the rent you pay will never come close to how much you would spend if you wanted to purchase a space. This is a good way to grow your business, because you can save money that you can invest in equipment, for example.
In the United States, the average cost for office space is between $8- $23/ sq. ft., but the price will vary according to the location and the size of the space.